Business Succession Planning
For Business Owners -
If you own a business, then you are a busy person. You are the founder, CEO, accountant, salesperson, and chief therapist, among other things. In fact, you probably don't have time to be reading this right now!
In the same vein, if you have partners then you are all busy working on the various pieces of the business you manage. Thankfully, things are going well now, but have you stopped to ask yourself these important questions:
What's going to happen to my business when I retire or if I become incapacitated or if I pass away unexpectedly?
What is going to happen to my partner's share in the business if something happens to him/her?
Just like there are prenuptial agreements that dictate what will happen in case of divorce, you need business succession plans to make sure you know what will happen to your business if you or your partner experience the unexpected.
That's where Borenstein, McConnell & Calpin can help. We can help you create Business Succession Plans with Buy-Sell Provisions in your Operating Agreements or Shareholder Agreements to ensure that you do not run the business with your partner's spouse. We can also consult with you (and your partners) to create a plan that spells out everything that must be done for almost any eventuality.
We can't predict the future, but we can help you plan for it. Contact Alec Borenstein at firstname.lastname@example.org or call 973-735-7941 (Ext. 5) to talk about how BMC can help you create a Business Succession Plan in New Jersey or New York City.
Getting in touch
Borenstein, McConnell & Calpin, P.C. is a Wills & Estate Planning law firm serving Central and Northern New Jersey, as well as New York City. We strive not only to give you a great client experience, but to become your trusted adviser for life. To reach Alec, please send an email to email@example.com.
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Springfield, NJ 07081
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Lebanon, NJ 08833
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Brooklyn, NY 11219